JOOR, the leading digital wholesale platform, released its end of year figures for 2021 and trend predictions moving forward into 2022. These data points confirm the continued acceleration of digital adoption among brands and retailers, and that even with the return of in-person markets and events, electronic B2B commerce continues to play an important and ever increasing role in the fashion ecosystem.
“We continue to see significant momentum in our business because we prioritize innovations that meaningfully impact the businesses of our brands and retailers,” explained Kristin Savilia, CEO of JOOR. “In 2022, we will look to build out successful offerings including a new and improved JOOR Marketplace to facilitate enhanced product discovery and our electronic payment and financing capabilities.”
Key Takeaways…
-Hybrid model is here to stay: As physical events start to return, the industry does not want to lose the reach and efficiency afforded by virtual selling.
-Small business advancement: On the B2B side, JOOR observed a significant increase in small businesses leveraging our platform to source exciting product, streamline their wholesale process, create greater efficiencies, and drive growth. Recognizing the need to make discovery faster and smarter, JOOR will soon be launching a new and improved Marketplace, leveraging AI-powered search technology to make finding the perfect product for your store easy and efficient.
-Expansion throughout APAC: According to JOOR, APAC sales tripled versus the same period a year ago. While Japan is currently the largest APAC market on JOOR (approximately 30% of total), China is in the number two position and showing the fastest growth. This is evidenced by the success seen in 2021, with APAC-based brands accepting almost 50% more orders and selling over 80% more products on JOOR than in 2020.
-Sustainability still reigns: Sustainability is the #1 most clicked category across all of JOOR Passport. It represents 18% of clicks on ALL style stories across our 36 events this year. JOOR is working on providing information regarding product sustainability further upstream, allowing retailers to use this data to inform their purchasing decisions. Brands on JOOR have reported saving 30% on sample costs by adopting JOOR’s digital wholesale solution, a bene t to both the environment and the bottom line.
-Renewed focus on supply chain: Inventory Management – With JOOR’s wide array of seamless ERP integrations, buyers have real-time visibility to available inventory, so they can immediately see what’s in stock at any given moment in time. Because JOOR operates within one digital ecosystem, changes and delays can be communicated immediately—for example, if a style is canceled or a timeline is modified, brands can notify their retailers right away and offer an alternative to ensure no one is left unprepared.
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